Resona Asset Management Co. Ltd. Acquires New Holdings in Jacobs Solutions Inc. (NYSE:J)

Resona Asset Management Co. Ltd. bought a new position in Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 36,057 shares of the company’s stock, valued at approximately $4,825,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Avalon Trust Co purchased a new position in shares of Jacobs Solutions in the fourth quarter worth approximately $33,000. Larson Financial Group LLC raised its position in Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock worth $37,000 after acquiring an additional 115 shares during the period. Quarry LP boosted its stake in shares of Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after acquiring an additional 233 shares during the last quarter. Assetmark Inc. grew its position in shares of Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Finally, Catalyst Capital Advisors LLC increased its stake in shares of Jacobs Solutions by 215.7% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock worth $49,000 after purchasing an additional 248 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Trading Down 0.5 %

J stock opened at $110.52 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $156.31. The business has a 50 day simple moving average of $125.64 and a two-hundred day simple moving average of $134.36. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 earnings per share. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its board has approved a share repurchase plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a $0.32 dividend. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions’s payout ratio is currently 26.39%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on J shares. Citigroup lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Truist Financial dropped their price target on shares of Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $152.14.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.